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Problem - Buddy Dupree is the accounting manager for On-Time Geeks, a tech support company for individuals and small businesses. As part of his job, Buddy is responsible for preparing the company's trial balance. His supervisor placed a "hard deadline" of Friday at 5 pm for the completion of the trial balance. Unfortunately, Buddy was unable to get the trial balance to balance by the due date. The credit side of the trial balance exceeded the debit side by $3,000. To make the deadline, Buddy decided to add a $3,000 debit to the vehicles account balance. He selected the vehicles account because it will not be significantly affected by the additional $3,000.
1. Is Buddy behaving ethically? Why or why not?
2. Who is affected by Buddy's decision?
3. How should Buddy have handled this situation?
Determine Which financial ratio would be relevant to creditors such as the bank and why are these ratios of concern to the bank? and provide the example
Joel has four transactions involving the sale of capital assets during the year resulting in a STCG of $5,000, a STCL of $12,000, a LTCG of $1,800 and a LTCL of $1,000. As a result of these transactions, Joel will:
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Century City, Inc. purchased a new printer on March 7 for $2,000. Prepare the journal entry on March 7 capturing the purchase of the printer
Brooks's target ending inventory is $20,000 plus 50% of next month's cost of goods sold. Prepare Brooks's inventory, purchases, and cost of goods sold budget
Question - At the break-even point of 2,000 units, variable costs are $165,000, and fixed costs are $96,000. How much is the selling price per unit
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